December 7, 2011
By Neal Farrell
Welcome to "winter" in Arizona! As usual, we
experience a little bit of a slowdown as we get into the holiday season but we
still have a declining inventory. As of now we have about 15,500 single family
homes for sale (active listings) and about 4200 other types. (condos/mobile
homes) About 6000 homes closed sale in the past 30 days with an average sales
price of $171,000 which was 99% of list price. If you are making an offer on a
home that's priced well, go all in otherwise you won't get it. We have an overall
inventory of about 2.6 months, so we are still very low. We expect the low
inventory levels to start affecting prices upwardly over the next year but it
won't be my much overall.
Our inventory in Goodyear is at 425 homes and 160 have closed in
the last 30 days that's 2.65 months with an average sales price of $157,000,
also 99% of list price. $157,000 gets you about 2200 square feet so that's
about $70 per square foot.
It's a great time to buy, prices are still not going
up and interest rates are SO very low! Those of you with good credit, stable
employment, reserves and a reasonable debt ratio can still qualify, you just
have to have all of your "ducks in a row":)